Bulkestate Review


Earn on average 14.87% interest per year.
Your investment is secured by a mortgage.


  • Mortgage-backed P2P loans
  • High yields up to 16%
  • Group Buying discounts
  • €0 loss of investors’ money


Risk & Return4.5 stars
Usability3.5 stars
Liquidity3 stars
Support4.5 stars


Buyback GuaranteeNo
Auto InvestYes
Secondary MarketNo


Min. Investment€ 50
Loan Originators1
Loan Period12 - 14 months
Interest12% - 16%


  • Secured by a mortgage
  • Very good return and risk ratio
  • Discounted real estate deals
  • Limited Diversification
  • Cash drag
  • No instant withdrawals

Bulkestate Review

Bulkestate is an Estonian peer-to-peer (P2P) real estate platform that offers investment opportunities into mortgage-backed real estate loans. You can expect an annual return of more than 14% and loan terms between 12 and 14 months.

Bulkestate is more than a P2P lending platform. The company offers investors a group-buying service that allows you to buy real estate for a discounted price. Keep reading this Bulkestate review to find out more about this unique feature.

bulkestate review

Bulkestate in Numbers

If you are familiar with our other P2P lending reviews, you’ll already know that we love numbers.

We wanted to have a look at Bulkestate’s stats but the data we needed wasn’t available on their website, which gave us the perfect excuse to get in touch and request the information required.

Luckily, Bulkestate got back to us within a few hours. Check the table below for our findings.

Bulkestate Statistics
Founded in:2016
Investor's earnings:+ €568,000
Total loan value:+ €13.3 M
Amount of investors:+5,200
Loss of investors' money:0%
Average portfolio size:€ -
Latest financial reportReport for 2018

Number of Users:

Despite having over 5,000 users, Bulkestate is one of the smaller P2P lending platforms. Real estate platforms like EstateGuru and Crowdestate have well over 30,000 investors each.

Average Portfolio Size:

Unfortunately, Bulkestate was unable to share information about the average portfolio size of its investors. If you are someone who likes to see platforms’ financial results for the last year, go ahead and look this stat up in the Estonian Business Registry as Bulkestate does not share this data on their website.

Just type ‘Bulkestate’ into the search box. If you want to view their latest report, you will need to purchase it for 2€.

Bulkestate Sign-Up Bonus

Unlike Mintos, EstateGuru, and Bondora, Bulkestate doesn’t currently offer any sign-up bonuses or promo codes for new investors. Also, this platform does not offer cashback to investors based on their investment amount during a specific period.

But, there are some amazing benefits to using this platform.The average interest of 14% is much higher than on most other P2P lending sites that offer do cashback bonuses. In fact, we never choose a P2P lending site based on their cashback offers but instead based on their protection, risk, and returns, as these are far more valuable in the long run.

Want to earn returns of 14% per year?

Bulkestate New User Requirements

So far so good, but what are the new user requirements?

Actually, Bulkestate is pretty good in this arena too.

Bulkestate accepts investors that are over 18 years old and in possession of a European bank account. Note, you need to transfer funds to the partner bank of Bulkestate in euros in order to invest on the platform.

If you don’t have a EUR account, we suggest signing up for a border Transferwise account or setting up an account with the trustworthy German digital bank N26. You can view the bank details in your Bulkestate user interface under withdrawals.

Important things to note: the minimum deposit on Bulkestate is currently €50, the transfer might take up to three business days and withdrawals can take up to five days.

Risk and Return

As with every P2P lending platform, you should know what kind of loans you’re investing in and whether they are secured or not.

Mortgage-Backed Loans

When investing on Bulkestate, you invest in mortgage-backed loans. Second rank mortgages aren’t common on this P2P lending site. In the rare occasion when the loan-to-value (LTV) is very low, a second rank mortgage might get accepted as collateral.

The average LTV is around 56%, which is also lower than most of the average metrics on EstateGuru or Crowdestate.

As you might already know, the lower the LTV ratio, the lower the risk.

How Bulkestate Operates

When it comes to risk assessment, Bulkestate collaborates with some of the largest real estate agencies in Latvia. Additionally, they have their own in-house real estate and finance analyst. Even though Bulkestate is registered in Estonia, they operate from their headquarters in Riga, Latvia.

Registering in one country but operating in another is a setup that is trending amongst baltic P2P lending sites. Crowdestor follows the same strategy.

Safe Storage of Investors’ Money

In terms of platform risk, Bulkestate stores investors’ money in separate bank accounts which are not used to fund operations of the platform. In case the borrower is delayed with their payments by more than 15 days, the P2P lending platform will contact the borrower to find a quick solution. Bulkestate has the right to terminate the contract immediately if the terms and conditions are broken. In this case, Bulkestate works together with the legal bureau FORT, which is also used by Mintos.

Loans on Bulkestate usually pay back the interest as well as the principal amount at the end of the loan term. Sometimes projects offer monthly repayments, however, this isn’t the rule in most cases.

Because you won’t get regular interest every month, the compound interest effect is slightly lower compared to investments in short-term loans on platforms such as PeerBerry or Robocash.


In terms of returns, you can expect to earn between 14% and 15% on average per year. It all comes down to the projects you want to invest in.

As we write this Bulkestate review, there is only one project available to invest in. The minimum investment amount on Bulkestate is €50. Creating a fully diversified portfolio on Bulkestate might take several weeks or months, depending on your investment amount.

bulkestate projects

Is Bulkestate Safe?

There’s no short answer to this question, but we can give you the facts for you to make up your own mind.

Bulkestate is licenced and regulated by the Estonian Financial Supervisors. Your investment on Bulkestate is protected by a mortgage. The platform’s goal is to estimate the future value, which helps to negotiate attractive deals with the borrowers and higher security for the investors. Investments secured by a mortgage are much less risky than unsecured personal loans on platforms like Twino or Swaper.

How User-Friendly is Bulkestate?

Bulkestate offers investors very basic functionalities. If you find Mintos or Bondora overwhelming, you will love investing on Bulkestate.

Bulkestate’s Auto Invest

While Bulkestate does have an Auto Invest feature, is the most basic one we’ve ever seen… and trust us, we’ve seen a lot.

You can only set up the following criteria:

  • Investment amount
  • Interest rate
  • Loan term
Unfortunately, the issues with this Auto Invest feature don’t stop there…

You should also know that the tool uses the first-come-first-serve principle, meaning it does not guarantee that your funds will be invested. The first investors to set up their Auto Invest will have the priority when investing in individual projects.

This is particularly useful when investing manually and evaluating individual projects.

In all honesty, we don’t think the Auto Invest serves many purposes. The only reason why you could consider using it is in case you don’t want to log in and invest manually.

bulkestate auto invest

Group Buying

Bulkestate offers a unique service that is yet to be implemented in any other P2P lending platform. Due to their expertise and good relationship with real estate developers, Bulkestate gives users the possibility to invest directly in real estate.

Let’s use an example of a building owner deciding to sell all of the apartments within their building. Bulkestate can list those on their platform for a discounted price. Sounds amazing, right? Well, there’s a small catch: this deal is only valid if all of the apartments get sold.

But, even so, this unique service often allows investors the chance to get their hands on incredible discounts of more than 20% while investing in real properties. Where can we sign up?!

bulkestate grpup buying

Liquidity Rates on Bulkestate

Looking for a buyback guarantee? Bulkestate isn’t the right P2P platform for you.There aren’t any ‘guarantees’ that allow you to sell back your claim in case the borrower is late with their payments.

There’s also no secondary market where investors can sell their investments in case they’re looking for an early exit.

The only way you can withdraw your money is to wait until the end of the loan term. On the rare occasion that the borrower repays the loan earlier as anticipated, investors receive the accrued interest. In these cases, the minimum amount of accrued interest investors will receive is three months.

If you are looking for P2P lending products that allow you to withdraw your money instantly, have a look at Bondora’s Go and Grow or Mintos’ Invest and Access. You can also choose to invest in short-term loans on platforms such as Swaper or PeerBerry.

Bulkestate's Customer Support

Having decent customer support is essential when choosing the right P2P lending platform. At the end of the day, the platform stores and manages your hard-earned money. In case you have any issues or questions, you want to have a responsive partner that helps to resolve your request.

There isn’t a live chat function on Bulkestate; however, you can get in touch with the platform via email. We received an answer within a few hours.

Bulkestate Review Summary

Bulkestate offers you the opportunity to either invest in property-backed loans or directly in real estate properties. No other platform follows this kind of business model. We believe that in order to succeed, you need to be able to differentiate from the competitors, and Bulkestate does a good job in this area.

While your portfolio on Bulkestate isn’t very liquid, the ratio between risk and returns is better than on other real estate P2P lending platforms such as EstateGuru or Crowdestate.

If you are content with earning over 14% interest per year, benefiting from the growth in the real estate crowdfunding industry, while investing in secured loans, you should definitely give Bulkestate a try.

Does that sound good to you?


Is Bulkestate good for diversification?

Bulkestate is useful if you are looking for platform diversification. Within Bulkestate itself there aren’t many options to diversify as there aren’t as many projects available.

Should I invest in Bulkestate?

LTV stands for Loan to Value. In the real estate niche, this represents the ratio of the loan to the estimated value of that property on the market. Most of the loans listed on EstateGuru have a loan value of 65%.

How is Bulkestate different from other platforms?

Bulkestate offers you the possibility to invest in small amounts in a variety of real estate loans but also buy real estate directly for a discounted price.

How is my investment protected on Bulkestate?

Your investment on Bulkestate is protected by a mortgage which covers the loan principal and the accrued interest.

Company Information
Company:Bulkestate OÜ
Address:Harju maakond, Tallinn, Kesklinna linnaosa, Toompuiestee 30, 10149, Estonia
Phone:+371 24 20 20 24
Live Chat:yes
Opening Hours:Weekdays from 9:30AM to 6PM
Social Media:Facebook, Twitter, LinkedIn, Instagram